ZipRealty today announced it plans to begin operations in Austin, Texas, during the third quarter of 2006,

Joining Dallas-Ft. Worth and Houston, Austin will be the third market for ZipRealty in the state.

ZipRealty is a national full-service real estate brokerage that rebates home buyers 20 percent of its commissions and home sellers up to 25 percent less than the standard market commission.

In Austin, ZipRealty plans to operate in Travis and Williamson counties. Immediate next steps include hiring the Austin management team along with local, licensed agents.

“Moving into Austin furthers our presence in the Southwest and is an important step in our continued expansion across the country,” said ZipRealty CEO Eric Danziger. “We’re excited to bring our consumer-centric business model and local real estate expertise to the Lone Star State capital.”

ZipRealty stock (Nasdaq: ZIPR) traded at $8.61 this morning.

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